Portugal provides Mozambique with 134 million euros

27 March 2014

Support of 134 million euros provided by Portugal to Mozambique is evidence of “absolute confidence” in the future of the country and Mozambican governance, Portugal’s Prime Minister said Wednesday in Maputo.

Pedro Passos Coelho, who was speaking at a dinner hosted by Mozambican President, Armando Guebuza, for the Portuguese government delegation that took part in the 2nd Luso-Mozambican summit, also said that the funding was “clear and unhesitating” support by the Portuguese Government for Mozambique.

Guebuza, who said that relations between the two countries were “excellent”, noted Portuguese investments in Mozambique that made Portugal the third-largest supplier of foreign direct investment (FDI).

During the 2nd Mozambique-Portugal Summit 20 agreements were signed, “an unprecedented number,” that according to Passos Coelho was a sign of an “increasingly solid two-way relationship.”

The summit’s final statement highlighted a rise in trade between the two countries in the last three years.

“In terms of economic growth, the 60 percent growth in Mozambican exports to Portugal was highlighted and of 43 percent of Portuguese exports to Mozambique since the last (two-way) summit, demonstrating the increasing relevance of the respective markets,” the statement said.

Portugal is “the foreign direct investor with most impact on job creation,” the statements aid, adding, “it was also noted that Portuguese companies continue to focus on Mozambique as a privileged destination for investment.” (macauhub)